Stock Market

After the news portion of a "Warmer Weather Hurting Retail" segment on the impact of the mild winter on retail sales thus far appearing early this morning on CNBC, Joe Kernen and John Harwood got into it over the relevance and influence of so-called "global warming" (I guess Harwood didn't get the memo that it's "climate change" now).

Picking up at the 2:10 mark of the video:

There was an astonishingly revealing moment on Sunday's 60 Minutes when President Obama said, "Some of the most damaging behavior on Wall Street, in some cases, some of the least ethical behavior on Wall Street, wasn't illegal."

For what should be obvious reasons, CBS's Steve Kroft didn't bother asking his guest who created, voted for or signed the pieces of legislation that allowed this "damaging behavior on Wall Street" to be legal (video follows with transcript and commentary):

Last month, NewsBusters reported 60 Minutes cherry-picking Peter Schweizer's book about Congressional insider trading to make it appear the problem was largely a Republican one.

Schweizer did a phone interview with NewsBusters last week to discuss this matter in greater detail including how with the exception of Fox News, despite this being a bipartisan issue, the media have largely ignored it to protect liberal politicians they revere (video follows with transcript):

For conservatives, one of the bright spots of the Occupy Wall Street protests was when millionaire investor Peter Schiff went down to Zuccotti Park with video camera and a sign reading "I Am The 1% - Let's Talk."

On Tuesday, I had the pleasure of speaking with Schiff by telephone in a sweeping interview about his experience at OWS, how the financial media are doing, and ending with his rather frightening view of the economy and the future of our nation (video follows with transcript):

If it's Saturday, I must be pointing out more simply stunning stupidity coming from the mouth of Bill Maher.

Never letting me down, the host of HBO's Real Time Friday said the financial crisis was caused by "something new in politics where Wall Street was sort of betting on things to fail as opposed to for things to succeed" (video follows with transcript and commentary):

On Tuesday, the morning shows of the Big Three networks omitted the party affiliation of Jon Corzine as they reported on the federal investigation into his brokerage firm, something that even the liberal New York Times gave in their coverage of the story. ABC's Good Morning America also failed to include Corzine's name during their news brief on the investigation.

News anchor Josh Elliott noted in a 13-second brief that "a Wall Street brokerage firm run by New Jersey's former governor is filing for bankruptcy. Regulators say some $700 million belonging to MF Global's customers is apparently missing." Apparently, the name of the Democrat's firm is newsworthy at ABC, but his name and his party ID isn't.

Occupy Wall Street isn’t just seizing city squares or the Brooklyn Bridge. The socialist/communist/anarchist revolutionary movement has also seized an incredible amount of coverage from the adoring media.

In the nation’s two most well-known liberal newspapers – The New York Times and Washington Post – the amount of space devoted to Occupy Wall Street has taken on epic proportions. In the nearly six weeks since the Sept. 17 launch of the left-wing movement, the two papers have written a book-load of stories mentioning OWS totalling more than 180,000 words. That comes to 224 stories and opinion pieces, not counting letters to the editor.

Trust him--he might be young, but he's a "professional sociologist."  So did Harrison Schultz, an organizer of the "Occupy Wall Street" protests, describe himself to Al Sharpton on MSNBC this evening.  And he wants Al and us to know that "a lot of the people that are here are in fact anarchists, are in fact revolutionaries.  . . . We don't really want to fix [the problems]. It's revolution, not reform."

There are also some amusing factoids about Harrison.  When he's not out fomenting revolution, Schultz is an . . . analyst for a marketing firm. Oh yeah, and in his oh-so-bourgeois LinkedIn profile, Harrison wants people to know he worked at Bank of America providing "assistance for several investment bankers." Oh, the horror! Video after the jump.

Jim Cramer, a Democrat and Wall Street insider, made a statement on CNBC's "Squawk Box" Friday morning that most definitely turned heads in the White House.

Speaking about the disappointing data released by the Conference Board, Cramer said that traders hate President Obama "like Jimmy Carter was hated" because they believe he's "destroying this country" (video follows with transcript and commentary):

Charles Krauthammer on Fox News's "Special Report" Friday offered Republicans a 2012 campaign slogan to defeat Barack Obama.

"President Zero: zero economic expansion, zero jobs, zero ideas on how to cure the economy" (video follows with transcript and commentary):

George Will and Donna Brazile had a telling exchange on ABC's "This Week" Sunday.

After Will listed all the excuses President Obama makes for the poor economy, Brazile said, "I thought you were going to mention media" leading Will to smartly retort, "They're not his problem" (video follows with transcript and commentary):

It often amazes that liberals in this country revere New York Times columnist Paul Krugman as being an expert economist.

Take for example Friday's intellectually challenged piece entitled "Bernanke's Perry Problem" in which the Nobel laureate accused prominent Republicans such as the Texas governor and Wisconsin Congressman Paul Ryan of preventing the Federal Reserve chairman from enacting monetary policy that would save the economy:

As NewsBusters has been reporting, the Obama-loving media have largely been gushing and fawning over the current White House resident taking a vacation on Martha's Vineyard as the economy appears to be heading into a double-dip recession.

Giving an interesting insight into the President's decision to not call Congress back from its summer break to tackle the problems facing the nation was New York Times columnist Maureen Dowd who wrote Sunday:

Stock markets around the world are once again imploding in fear of a global double-dip recession.

Appearing on PBS's "Inside Washington" Friday, NPR's Nina Totenberg said Barack Obama can cure what ails us with "a lot of very populist rhetoric" (video follows with transcript and commentary):

Unemployment is at 9.1 percent, housing and stock prices are plummeting, national debt is exploding, and Medicare is going bankrupt.

Yet MSNBC anchor Chris Matthews' greatest fear is a president that doesn't believe in evolution or climate change (video follows with transcript and commentary):

As NewsBusters has been reporting, the Obama-loving media are working overtime examining the records of every GOP candidate for president.

"The bright side though is," conservative author Ann Coulter told Fox News's Sean Hannity Wednesday, "we don't end up with a Republican president who is suddenly having an affair with an intern, or a Republican president who votes present for his entire term as the economy falls into the toilet" (video follows with transcript and commentary):

Liberals need to grow up and stop criticizing President Obama.

So said Fareed Zakaria Sunday on the CNN program bearing his name (video follows with transcript and commentary):

It appears David Gregory is a bit confused about how our system of government works.

During intense questioning of Congresswoman Michele Bachmann (R-Minn.) on Sunday's "Meet the Press," the host scolded his guest for having the nerve to actually care what the American people thought about raising the debt ceiling (video follows with transcript and commentary):

In the view of the New York Times, everything that ails our nation is caused by Republicans.

Consider Saturday's editorial disgracefully titled "Magical Unrealism: In the Iowa Debate, Republicans Fled From the Truth About the Damage Caused by Their Party":

If we're to believe Associated Press reporter Daniel Wagner, this morning's report from the Department of Labor on unemployment claims revealing that initial claims during the week ended August 6 fell to 395,000, was "good news." Why, according to Wagner, that drop, all by itself, it was "enough to catapult stocks," pushing the Dow up by 423 points in Thursday's trading.

Uh, not exactly, Daniel. First, though the decline in initial claims was in the right direction, it was only 5,000, or 1.25%, less than last week's original number of 400,000 (naturally revised up to 402,000 this week), and an even tinier 3,000 fewer than the initial number two weeks ago. If (more like when, given the track record of previous weeks) it's revised up by 3,000 or so, it will be even less impressive. Huge advances in the Dow do not arise from such tiny improvements.

As NewsBusters reported, MSNBC's Chris Matthews on Wednesday took some poorly-researched cheap shots at conservative talk radio host Rush Limbaugh.

Limbaugh responded Thursday explaining that this is borne of frustration over the failure of Barack Obama noting, "The Chris Matthewses and the media are very close to the rioters in London in terms of anger, disappointment" (video follows with transcript and commentary):

Jay Carney, meet Jay Carney.

In 2001, the then-Time magazine reporter wrote a snarky piece criticizing President George W. Bush's month-long vacation that was billed as a "Home to the Heartland" tour. But almost exactly 10 years later Carney, now the Obama White House's press secretary, is defending President Barack Obama's Midwest job-creation tour and vacation at Martha's Vineyard.

"I don't think Americans out there would begrudge that notion that the President would spend some time with his family," claimed Carney at a recent press briefing.

For some reason, in the middle of a lengthy "Morning Joe" segment dealing with President Obama's obvious failures as a leader, host Joe Scarborough on Thursday felt the need to bring up conservative talk radio host Rush Limbaugh (video follows with transcript and commentary):

MSNBC's Thomas Roberts implied Tuesday that members of Congress who oppose efforts to inject more government spending into the economy, as President Barack Obama proposed recently, are committing an "act of treason."

"Why don't people look at that as an act of treason?" the daytime anchor asked the Washington Post's Ezra Klein, who shrugged off the accusation.

"I don't think what happens is Mitch McConnell and John Boehner retire to their volcano lair and plot how to doom the American economy," replied the liberal blogger.

[See video below. MP3 audio here.]

Joe Scarborough on Tuesday told his "Morning Joe" co-host an inconvenient truth that she and most of her colleagues in the media just can't handle.

"A president that cannot control 45 backbenchers in the opposing Party in the House of Representatives is too weak to be President of the United States. It is that simple" (video follows with transcript and commentary):

Obama advisers, Democrat senators, and terminally stupid ideologues that for days have blamed Standard and Poor's downgrade of America's debt on the Tea Party are sadly mistaken.

Next to the President of the United States and his Party, those really responsible are members of the media.